CalChamber Announces 2021 Job Killers
For the 21st consecutive year, CalChamber is releasing their Job Killer list that identifies pending legislation that will significantly harm California’s business climate if enacted by: (1) discouraging employers from locating to California; (2) discouraging employers from growing their workforce in California; (3) eliminating jobs in California; or (4) significantly increasing costs on employers, which limits their ability to expand employee wages, benefits, and jobs. Although we see this type of legislation introduced year after year in California, it is especially surprising and harmful this year given that we are still currently in a pandemic, and many sectors of our economy are still suffering.
Much of California has been completely shut down or at a reduced capacity for the past year. Unemployment is still high, with approximately one million individuals out of work compared to the year before the pandemic hit. According to EDD, almost every sector of the economy saw a reduction in their workforce in 2020. Small businesses have shut down, or are barely holding on. It is estimated that about 44% of small businesses are at risk of shutting down permanently as a result of the COVID-19 pandemic. Small business revenue is down more than 30% in California, with some sectors being down more than 70%. According to Visit California, hospitality and tourism lost $59 billion in 2020 and California is not likely to reach pre-pandemic travel related spending until 2025. And while the increased vaccine distribution is promising and providing optimism that we may be close to the end of this pandemic, no one knows for sure. The Governor and federal government continue to remind people to be vigilant against the virus to curb any rise in infections. Read More